What do we do?
We don’t provide ‘off the shelf’ agreements or generalized precedents. We believe the cross option agreement is an important part of the company constitution and requires an advice process to ensure the agreement meets the objectives of the directors and the members. We talk to you, look at your objectives and company share structure and provide a plan that includes adapting the articles of association.
Why you use you?
We have over 20 years experience of advising companies, we firmly believe implementing a defined process on the deal of member is not just about – filling in a form – you ought to consider many factors in agreeing your cross option agreement along with ensuring the companies constitutional documents will achieve the correct outcome.
Can’t I use the insurance providers agreements?
Yes, life insurance companies provide cross option agreements that are fit for purpose, they do not provide an holistic approach and include adapting the articles of association. The cross option agreement may stipulate they override the articles, the outcome of this type of drafting can cause legal issues on death.
A cross option agreement can provide a clear process on the death a shareholder.
- Clear agreement in place with all the members.
- Fixed Value agreed that may be reviewed yearly.
- The option can be exclusive for certain members.
- Pre-emption provisions in the articles.
- Life insurance provisions to provide funds for the share purchase.
Who we work with?
We work with accountants , solicitors, financial advisers and directly with family businesses to provide bespoke advise on drafting cross option agreements and advice on adapting the articles of association.
Richard Bishop is the leading author on Articles of Association and has written two books on articles for companies and articles for charities and not-for-profit.